Hello, winter! Mt. Bachelor received over 100" of
snowfall in January alone, with plenty of snow falling in Bend and Sunriver. That brings our
snowpack to 88% of average, with more on the way. Water in the high desert is a precious commodity, so skier or not, snow is a good thing! But, Central Oregon winter's can be variable and unpredictable. Yesterday brought temperatures well above freezing with plenty of sunshine and melting roadways. Don't get used to the sun as the next storm is already hitting the west coast. This
storm will add snow to the mountains almost daily, with rain and snow mixed in town. Expect icy conditions in the mornings and evenings.
Click on the chart for a PDF showing how the first three weeks of January compares with the same period since 2016. These numbers represent every residential property sold in the entire Central Oregon MLS, giving you a comprehensive view of the start of the year. The number of homes sold has remained steady in the low 200's, but the median sales price per square foot has increased by over 34%.
Recently the Wall Street Journal posted an interesting
article about the explosive growth in Star, Idaho, and the Treasure Valley in general. Star is about 30 minutes west of Boise and has doubled in growth to 10,000 residents. Projections indicate Star could have 35,000 residents by 2040! The move to communities like Bend is not slowing down, and that is driving our real estate market. If you have any questions about how this growth impacts your real estate decisions, I would be happy to help you create a strategy.
